Could Volker Rule Be a ‘Stealthier’ Way to Cut U.S. Debt?

As Washington’s infamous budget battles and government shutdowns show, resolving the U.S. debt overhang by cutting federal spending and raising taxes is a colossal political task.

That’s why, according to Harvard University economist Carmen Reinhart, U.S. officials are resorting to financial regulation and monetary policy as an effective way to pare down the country’s public obligations.

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